Income from fno
This query is : Resolved
27 July 2018
Assessee (Senior citizen age of 83 years) is has incurred a loss of Rs. 9.00 lakhs on total turnover of Rs. 31.00 lakhs ( on trading in Future n Option (derivatives) and having a pension income of Rs. 3.50 lakhs.plus interest of Rs. .50 lakhs , since there is loss in business is it necessary to carry out the tax audit for a.y. 2018-19 or ITR 3 can be filed without tax audit and what is the business code to be mentioned
30 July 2018
No audit is required as his income does not exceeds the exemption limit of Rs 5 lacs (in case of super senior Citizen)
30 July 2018
thanks for early reply
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